| Summary Information by Reportable Business Segment |
Summary information by reportable business segment is as follows: For the three months ended June 30, 2015: | | | | | | | | | | | | | | | | | | | | | | Triple-Net Leased Properties | | Senior Living Operations | | MOB Operations | | All Other | | Total | | (In thousands) | Revenues: | | | | | | | | | | Rental income | $ | 260,562 |
| | $ | — |
| | $ | 140,403 |
| | $ | — |
| | $ | 400,965 |
| Resident fees and services | — |
| | 454,645 |
| | — |
| | — |
| | 454,645 |
| Medical office building and other services revenue | 1,139 |
| | — |
| | 7,749 |
| | 520 |
| | 9,408 |
| Income from loans and investments | — |
| | — |
| | — |
| | 26,068 |
| | 26,068 |
| Interest and other income | — |
| | — |
| | — |
| | 236 |
| | 236 |
| Total revenues | $ | 261,701 |
| | $ | 454,645 |
| | $ | 148,152 |
| | $ | 26,824 |
| | $ | 891,322 |
| Total revenues | $ | 261,701 |
| | $ | 454,645 |
| | $ | 148,152 |
| | $ | 26,824 |
| | $ | 891,322 |
| Less: | | | | | | | | | | Interest and other income | — |
| | — |
| | — |
| | 236 |
| | 236 |
| Property-level operating expenses | — |
| | 299,252 |
| | 43,321 |
| | — |
| | 342,573 |
| Medical office building services costs | — |
| | — |
| | 5,764 |
| | — |
| | 5,764 |
| Segment NOI | 261,701 |
| | 155,393 |
| | 99,067 |
| | 26,588 |
| | 542,749 |
| Income (loss) from unconsolidated entities | 221 |
| | (240 | ) | | 143 |
| | (115 | ) | | 9 |
| Segment profit | $ | 261,922 |
| | $ | 155,153 |
| | $ | 99,210 |
| | $ | 26,473 |
| | 542,758 |
| Interest and other income | |
| | |
| | |
| | |
| | 236 |
| Interest expense | |
| | |
| | |
| | |
| | (107,591 | ) | Depreciation and amortization | |
| | |
| | |
| | |
| | (249,195 | ) | General, administrative and professional fees | |
| | |
| | |
| | |
| | (33,962 | ) | Gain on extinguishment of debt, net | | | | | | | | | 455 |
| Merger-related expenses and deal costs | |
| | |
| | |
| | |
| | (14,585 | ) | Other | |
| | |
| | |
| | |
| | (5,091 | ) | Income tax benefit | |
| | |
| | |
| | |
| | 9,789 |
| Discontinued operations | |
| | |
| | |
| | |
| | 67 |
| Gain on real estate dispositions | | | | | | | | | 7,469 |
| Net income | |
| | |
| | |
| | |
| | $ | 150,350 |
|
For the three months ended June 30, 2014: | | | | | | | | | | | | | | | | | | | | | | Triple-Net Leased Properties | | Senior Living Operations | | MOB Operations | | All Other | | Total | | (In thousands) | Revenues: | | | | | | | | | | Rental income | $ | 242,726 |
| | $ | — |
| | $ | 114,890 |
| | $ | — |
| | $ | 357,616 |
| Resident fees and services | — |
| | 374,473 |
| | — |
| | — |
| | 374,473 |
| Medical office building and other services revenue | 1,145 |
| | — |
| | 2,722 |
| | 500 |
| | 4,367 |
| Income from loans and investments | — |
| | — |
| | — |
| | 14,625 |
| | 14,625 |
| Interest and other income | — |
| | — |
| | — |
| | 173 |
| | 173 |
| Total revenues | $ | 243,871 |
| | $ | 374,473 |
| | $ | 117,612 |
| | $ | 15,298 |
| | $ | 751,254 |
| Total revenues | $ | 243,871 |
| | $ | 374,473 |
| | $ | 117,612 |
| | $ | 15,298 |
| | $ | 751,254 |
| Less: | | | | | | | | | | Interest and other income | — |
| | — |
| | — |
| | 173 |
| | 173 |
| Property-level operating expenses | — |
| | 249,424 |
| | 39,335 |
| | — |
| | 288,759 |
| Medical office building services costs | — |
| | — |
| | 1,626 |
| | — |
| | 1,626 |
| Segment NOI | 243,871 |
| | 125,049 |
| | 76,651 |
| | 15,125 |
| | 460,696 |
| Income (loss) from unconsolidated entities | 17 |
| | 160 |
| | 307 |
| | (136 | ) | | 348 |
| Segment profit | $ | 243,888 |
| | $ | 125,209 |
| | $ | 76,958 |
| | $ | 14,989 |
| | 461,044 |
| Interest and other income | |
| | |
| | |
| | |
| | 173 |
| Interest expense | |
| | |
| | |
| | |
| | (91,501 | ) | Depreciation and amortization | |
| | |
| | |
| | |
| | (190,818 | ) | General, administrative and professional fees | |
| | |
| | |
| | |
| | (31,306 | ) | Loss on extinguishment of debt, net | | | | | | | | | (2,924 | ) | Merger-related expenses and deal costs | |
| | |
| | |
| | |
| | (9,599 | ) | Other | |
| | |
| | |
| | |
| | (4,863 | ) | Income tax expense | |
| | |
| | |
| | |
| | (3,274 | ) | Discontinued operations | |
| | |
| | |
| | |
| | (255 | ) | Gain on real estate dispositions | | | | | | | | | 11,889 |
| Net income | |
| | |
| | |
| | |
| | $ | 138,566 |
|
For the six months ended June 30, 2015: | | | | | | | | | | | | | | | | | | | | | | Triple-Net Leased Properties | | Senior Living Operations | | MOB Operations | | All Other | | Total | | (In thousands) | Revenues: | | | | | | | | | | Rental income | $ | 526,768 |
| | $ | — |
| | $ | 277,393 |
| | $ | — |
| | $ | 804,161 |
| Resident fees and services | — |
| | 901,559 |
| | — |
| | — |
| | 901,559 |
| Medical office building and other services revenue | 2,275 |
| | — |
| | 16,607 |
| | 1,069 |
| | 19,951 |
| Income from loans and investments | — |
| | — |
| | — |
| | 48,967 |
| | 48,967 |
| Interest and other income | — |
| | — |
| | — |
| | 708 |
| | 708 |
| Total revenues | $ | 529,043 |
| | $ | 901,559 |
| | $ | 294,000 |
| | $ | 50,744 |
| | $ | 1,775,346 |
| Total revenues | $ | 529,043 |
| | $ | 901,559 |
| | $ | 294,000 |
| | $ | 50,744 |
| | $ | 1,775,346 |
| Less: | | | | | | | | | | Interest and other income | — |
| | — |
| | — |
| | 708 |
| | 708 |
| Property-level operating expenses | — |
| | 597,614 |
| | 85,670 |
| | — |
| | 683,284 |
| Medical office building services costs | — |
| | — |
| | 12,682 |
| | — |
| | 12,682 |
| Segment NOI | 529,043 |
| | 303,945 |
| | 195,648 |
| | 50,036 |
| | 1,078,672 |
| Income (loss) from unconsolidated entities | 645 |
| | (662 | ) | | 119 |
| | (344 | ) | | (242 | ) | Segment profit | $ | 529,688 |
| | $ | 303,283 |
| | $ | 195,767 |
| | $ | 49,692 |
| | 1,078,430 |
| Interest and other income | |
| | |
| | |
| | |
| | 708 |
| Interest expense | |
| | |
| | |
| | |
| | (214,181 | ) | Depreciation and amortization | |
| | |
| | |
| | |
| | (496,636 | ) | General, administrative and professional fees | |
| | |
| | |
| | |
| | (68,292 | ) | Gain on extinguishment of debt, net | | | | | | | | | 434 |
| Merger-related expenses and deal costs | |
| | |
| | |
| | |
| | (49,757 | ) | Other | |
| | |
| | |
| | |
| | (10,387 | ) | Income tax benefit | |
| | |
| | |
| | |
| | 17,039 |
| Discontinued operations | |
| | |
| | |
| | |
| | (356 | ) | Gain on real estate dispositions | | | | | | | | | 14,155 |
| Net income | |
| | |
| | |
| | |
| | $ | 271,157 |
|
For the six months ended June 30, 2014: | | | | | | | | | | | | | | | | | | | | | | Triple-Net Leased Properties | | Senior Living Operations | | MOB Operations | | All Other | | Total | | (In thousands) | Revenues: | | | | | | | | | | Rental income | $ | 480,572 |
| | $ | — |
| | $ | 230,113 |
| | $ | — |
| | $ | 710,685 |
| Resident fees and services | — |
| | 745,534 |
| | — |
| | — |
| | 745,534 |
| Medical office building and other services revenue | 2,293 |
| | — |
| | 7,374 |
| | 1,000 |
| | 10,667 |
| Income from loans and investments | — |
| | — |
| | — |
| | 25,392 |
| | 25,392 |
| Interest and other income | — |
| | — |
| | — |
| | 446 |
| | 446 |
| Total revenues | $ | 482,865 |
| | $ | 745,534 |
| | $ | 237,487 |
| | $ | 26,838 |
| | $ | 1,492,724 |
| Total revenues | $ | 482,865 |
| | $ | 745,534 |
| | $ | 237,487 |
| | $ | 26,838 |
| | $ | 1,492,724 |
| Less: | | | | | | | | | | Interest and other income | — |
| | — |
| | — |
| | 446 |
| | 446 |
| Property-level operating expenses | — |
| | 497,719 |
| | 78,680 |
| | — |
| | 576,399 |
| Medical office building services costs | — |
| | — |
| | 4,997 |
| | — |
| | 4,997 |
| Segment NOI | 482,865 |
| | 247,815 |
| | 153,810 |
| | 26,392 |
| | 910,882 |
| Income (loss) from unconsolidated entities | 586 |
| | 16 |
| | 260 |
| | (266 | ) | | 596 |
| Segment profit | $ | 483,451 |
| | $ | 247,831 |
| | $ | 154,070 |
| | $ | 26,126 |
| | 911,478 |
| Interest and other income | |
| | |
| | |
| | |
| | 446 |
| Interest expense | |
| | |
| | |
| | |
| | (179,342 | ) | Depreciation and amortization | |
| | |
| | |
| | |
| | (384,412 | ) | General, administrative and professional fees | |
| | |
| | |
| | |
| | (64,172 | ) | Loss on extinguishment of debt, net | | | | | | | | | (2,665 | ) | Merger-related expenses and deal costs | |
| | |
| | |
| | |
| | (20,359 | ) | Other | |
| | |
| | |
| | |
| | (10,092 | ) | Income tax expense | |
| | |
| | |
| | |
| | (6,707 | ) | Discontinued operations | |
| | |
| | |
| | |
| | 2,776 |
| Gain on real estate dispositions | | | | | | | | | 12,889 |
| Net income | |
| | |
| | |
| | |
| | $ | 259,840 |
|
Assets by reportable business segment are as follows: | | | | | | | | | | | | | | | | As of June 30, 2015 | | As of December 31, 2014 | | (Dollars in thousands) | Assets: | | | | | | | | Triple-net leased properties | $ | 9,638,035 |
| | 39.7 | % | | $ | 9,176,159 |
| | 43.2 | % | Senior living operations | 8,267,934 |
| | 34.0 |
| | 7,421,924 |
| | 35.0 |
| MOB operations | 5,233,638 |
| | 21.6 |
| | 3,526,217 |
| | 16.6 |
| All other assets | 1,135,555 |
| | 4.7 |
| | 1,101,871 |
| | 5.2 |
| Total assets | $ | 24,275,162 |
| | 100.0 | % | | $ | 21,226,171 |
| | 100.0 | % |
Capital expenditures, including investments in real estate property and development project expenditures, by reportable business segment are as follows: | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | 2015 | | 2014 | | 2015 | | 2014 | | (In thousands) | Capital expenditures: | | | | | | | | Triple-net leased properties | $ | 102,971 |
| | $ | 57,380 |
| | $ | 559,989 |
| | $ | 249,432 |
| Senior living operations | 29,374 |
| | 62,317 |
| | 311,806 |
| | 79,180 |
| MOB operations | 100,447 |
| | 9,830 |
| | 488,174 |
| | 22,863 |
| Total capital expenditures | $ | 232,792 |
| | $ | 129,527 |
| | $ | 1,359,969 |
| | $ | 351,475 |
|
|